Why would anyone use an Exclusive Buyers Agent?
You see a great house on that website you love: HOUSEseeker.com and you just want to get inside to see it in person. Who wouldn’t? So you look for the phone number and call, get some agent, and you say “I want to see that house on Main Street in SimTown today.” You really have no idea who the agent is or who she represents, do you? But you really don’t care either, do you? I’m here to tell you that you DO care and what you really want is an Exclusive Buyer Agent. Whoever answered that phone represents the seller.
What Exactly IS an Exclusive Buyer Agent?
“An exclusive buyer agent (or EBA) is a firm (or an agent or broker who works in such a company) that represents only buyers of real estate. EBA firms never take listings and, therefore, never represent the seller in a real estate transaction. Exclusive buyer agent firms have chosen this business model in order eliminate the conflict of interest that exists when one firm attempts to represent both buyer and seller in the same transaction.”
Think of an Exclusive Buyer Agent as the Superhero of Real Estate
You know how the Avengers and Superman, etc. are always on the side of the poor and downtrodden? Well, that’s what your exclusive buyer agent does. They stand for YOU the buyer. Almost all other agents have some affiliation with the seller. Either they represent them now, or their company does or has done so in the past or will in the future.
Just a Heads-Up—No Matter How Much Disclosure is Involved, there is no Way to Make dual agency fair for YOU
Dual agency is a no-win situation. It is impossible to decide how to be “fair” to two parties on opposite sides of a deal. Think about all the places in a transaction where taking a position in favor of one side should be a given. The price negotiation, when the closing happens, what to do when there are inspection problems, how to respond if one party does not adhere to the terms of the agreement, etc. In dual agency situations, the agent is incented to ignore or gloss over these issues in order to keep the transaction together.
Contrary to what you might think, exclusive buyer agents are almost always WITHOUT ANY COST TO THE BUYER
Exclusive buyer agency, in contrast to all other possible representations in buying a home, is a win-win situation. The house will not cost any more because the commission has long ago been negotiated with the listing agent and advertised to all buyer agents through the multiple listing service. The only thing that happens if you bring your own agent is that the commission is split. If you do not have your own agent, the seller’s agent GETS TO KEEP IT ALL.
Exclusive Buyer Agent—One Who Puts His Money Where His Mouth Is
Home buyers need an advocate for them, instead of the way the industry has it set up, which is to get the deal done regardless. An exclusive buyer agent is willing to forego the income from listings to do this—that is how strongly they feel about it. They put their money where their mouth is, for YOU.
So be smart and get some help! Learn more about how using an exclusive buyer agent can make a difference by contacting Linda Walters at Sage Realty, 37 West Avenue, Suite 103, Wayne, PA 19087,or by email LindaWalters@FindAHomeInPA.com by calling 610-687-4000 or by visiting ww.FindAHomeinPA.com And check out our home buyers blog: http://www.findahomeinpa.com/category/blog/
Copyright 2013 Linda Walters, Sage Realty LLC